Page 120 - Sothebys Fine Japanese Art London, November 2018

registered to collect sales tax, Sotheby’s is making or attempting to make a bid, by (c) Bidders acknowledge that many lots Business;
obliged to collect and remit the respective whatever means, and includes Buyers; are of an age and type which means that
state’s sales / use tax in effect on the total “Buyer” is the person who makes the they are not in perfect condition. All lots (iii) accepts responsibility to any Bidders
in respect of acts or omissions (whether
purchase price (including hammer price, are offered for sale in the condition they
buyer’s premium, shipping costs and highest bid or offer accepted by the are in at the time of the auction (whether negligent or otherwise) by Sotheby’s in
auctioneer, and includes such person’s
connection with the conduct of auctions
insurance) of such items, regardless of the or not Bidders are in attendance at the
country in which the purchaser resides principal when bidding as agent; auction). Condition reports may be or for any matter relating to the sale of
any lot.
or is a citizen. Where the purchaser has “Buyer’s Expenses” are any costs or available to assist when inspecting lots.
provided Sotheby’s with a valid Resale expenses due to Sotheby’s from the Catalogue descriptions and condition (c) Unless Sotheby’s owns a lot offered
Exemption Certificate prior to the release Buyer and any Artist’s Resale Right levy reports may on occasions make reference for sale, it is not responsible for any
of the property, sales / use tax will not payable in respect of the sale of the to particular imperfections of a lot, but breach of these conditions by the Seller.
be charged. Clients who wish to provide Property, including an amount in respect Bidders should note that lots may have
resale or exemption documentation for of any applicable VAT thereon; other faults not expressly referred to (d) Without prejudice to Condition 4(b),
any claim against Sotheby’s or the Seller
their purchases should contact Post Sale in the catalogue or condition report.
Services. “Buyer’s Premium” is the commission Illustrations are for identification purposes by a Bidder is limited to the Purchase
payable by the Buyer on the Hammer only and will not convey full information as Price with regard to that lot. Neither
Clients who wish to have their Price at the rates set out in the guide to Sotheby’s nor the Seller shall under
purchased lots shipped to the US by Buying at Auction plus any applicable VAT to the actual condition of lots. any circumstances be liable for any
Sotheby’s are advised to contact the Post or an amount in lieu of VAT; (d) Information provided to Bidders in consequential losses.
Sale Manager listed in the front of this “Counterfeit” is as defined in Sotheby’s respect of any lot, including any estimate, (e) None of this Condition 4 shall exclude
catalogue before arranging shipping. whether written or oral and including
Authenticity Guarantee; or limit Sotheby’s liability in respect of
information in any catalogue, condition or any fraudulent misrepresentation made
“Hammer Price” is the highest bid other report, commentary or valuation,
CONDITIONS OF BUSINESS accepted by the auctioneer by the fall is not a representation of fact but rather by Sotheby’s or the Seller, or in respect
of death or personal injury caused by the
FOR BUYERS of the hammer, (in the case of wine, as is a statement of opinion genuinely held negligent acts or omissions of Sotheby’s
apportioned pro-rata by reference to the by Sotheby’s. Any estimate may not be
The nature of the relationship between number of separately identified items in relied on as a prediction of the selling price or the Seller.
Sotheby’s, Sellers and Bidders and the that lot), or in the case of a post-auction or value of the lot and may be revised
terms on which Sotheby’s (as auctioneer) sale, the agreed sale price; from time to time in Sotheby’s absolute 5. BIDDING AT AUCTION
and Sellers contract with Bidders are set discretion. (a) Sotheby’s has absolute discretion to
out below. “Purchase Price” is the Hammer Price refuse admission to the auction. Bidders
and applicable Buyer’s Premium and VAT; (e) No representations or warranties are must complete a Paddle Registration
Bidders’ attention is specifically drawn to made by Sotheby’s or the Seller as to
Conditions 3 and 4 below, which require “Reserve” is the (confidential) minimum whether any lot is subject to copyright Form and supply such information and
references as required by Sotheby’s.
them to investigate lots prior to bidding Hammer Price at which the Seller has or whether the Buyer acquires copyright
and which contain specific limitations agreed to sell a lot; in any lot. Bidders act as principal unless they
have Sotheby’s prior written consent to
and exclusions of the legal liability of “Seller” is the person offering a lot for
Sotheby’s and Sellers. The limitations sale (including their agent (other than (f) Subject to the matters referred to at bid as agent for another party. Bidders
are personally liable for their bid and
and exclusions relating to Sotheby’s are Sotheby’s), executors or personal 3(a) to 3(e) above and to the specific
consistent with its role as auctioneer representatives); exclusions contained at Condition 4 are jointly and severally liable with their
principal if bidding as agent.
of large quantities of goods of a wide below, Sotheby’s shall exercise such
variety and Bidders should pay particular “Sotheby’s” means Sotheby’s, the reasonable care when making express (b) Sotheby’s advises Bidders to attend
attention to these Conditions. unlimited company which has its statements in catalogue descriptions or the auction but will seek to carry out
registered office at 34-35 New Bond condition reports as is consistent with absentee written bids which are in pounds
1. INTRODUCTION Street, London W1A 2AA; its role as auctioneer of lots in the sale to sterling and, in Sotheby’s opinion, clear
which these Conditions relate, and in the and received sufficiently in advance of the
(a) Sotheby’s and Sellers’ contractual “Sotheby’s Company” means both light of:
relationship with prospective Buyers is Sotheby’s in the USA and any of its sale of the lot, endeavouring to ensure
governed by: subsidiaries (including Sotheby’s in (i) the information provided to it by the that the first received of identical written
London) and Sotheby’s Diamonds SA and Seller; bids has priority.
(i) these Conditions of Business;
its subsidiaries (in each case “subsidiary” (c) Where available, written, telephone
(ii) the Conditions of Business for Sellers having the meaning of Section 1159 of the (ii) scholarship and technical knowledge; and online bids are offered as an
displayed in the saleroom and which are Companies Act 2006); and additional service for no extra charge, at
available upon request from Sotheby’s UK (iii) the generally accepted opinions of the Bidder’s risk and shall be undertaken
salerooms or by telephoning +44 (0)20 “VAT” is Value Added Tax at the relevant experts, in each case at the time with reasonable care subject to Sotheby’s
prevailing rate. Further information
7293 6482; any such express statement is made. other commitments at the time of the
is contained in the guide to Buying at
(iii) Sotheby’s Authenticity Guarantee as Auction. 4. EXCLUSIONS AND LIMITATIONS auction; Sotheby’s therefore cannot
printed in the sale catalogue; OF LIABILITY TO BUYERS accept liability for failure to place
3. DUTIES OF BIDDERS AND such bids save where such failure is
(iv) any additional notices and terms OF SOTHEBY’S IN RESPECT (a) Sotheby’s shall refund the Purchase unreasonable. Telephone and online
printed in the sale catalogue, including the OF ITEMS FOR SALE Price to the Buyer in circumstances where bids may be recorded. Online bids
guide to Buying at Auction; and it deems that the lot is a Counterfeit and (“BidNOW”) are made subject to the
(a) Sotheby’s knowledge in relation
(v) in respect of online bidding via the to each lot is partially dependent on each of the conditions of the Authenticity BidNOW Conditions available on the
internet, the BidNOWConditions on the information provided to it by the Seller, Guarantee has been satisfied. Sotheby’s website or upon request. The

Sotheby’s website, and Sotheby’s is not able to and does (b) In the light of the matters in Condition BidNOW Conditions apply in relation to
not carry out exhaustive due diligence on 3 above and subject to Conditions 4(a) online bids, in addition to these Conditions
in each case as amended by any saleroom each lot. Bidders acknowledge this fact and 4(e), neither any Sotheby’s Company of Business.
notice or auctioneer’s announcement at and accept responsibility for carrying out
the auction. inspections and investigations to satisfy nor the Seller: 6. CONDUCT OF THE AUCTION
(b) As auctioneer, Sotheby’s acts as themselves as to the lots in which they (i) is liable for any errors or omissions (a) Unless otherwise specified, all lots are
agent for the Seller. A sale contract is may be interested. in information provided to Bidders by offered subject to a Reserve, which shall
made directly between the Seller and the (b) Each lot offered for sale at Sotheby’s Sotheby’s (or any Sotheby’s Company), be no higher than the low presale estimate
Buyer. However, Sotheby’s may own a is available for inspection by Bidders prior whether orally or in writing, whether at the time of the auction.
lot (and in such circumstances acts in a to the sale. Sotheby’s accepts bids on negligent or otherwise, except as set out (b) The auctioneer has discretion at any
principal capacity as Seller) and/or may lots solely on the basis that Bidders (and in Condition 3(f) above; time to refuse any bid, withdraw any lot,
have a legal, beneficial or financial interest independent experts on their behalf, to (ii) gives any guarantee or warranty to re-offer a lot for sale (including after the
in a lot as a secured creditor or otherwise. the extent appropriate given the nature Bidders and any implied warranties and fall of the hammer) if he believes there
2. COMMON TERMS and value of the lot and the Bidder’s conditions are excluded (save in so far as may be error or dispute, and take such
such obligations cannot be excluded by
own expertise) have fully inspected the other action as he reasonably thinks fit.
In these Conditions of Business: lot prior to bidding and have satisfied law) other than the express warranties (c) The auctioneer will commence and
“Bidder” is any person considering, themselves as to both the condition of the given by the Seller to the Buyer in advance the bidding at levels and in
Condition 2 of the Sellers’ Conditions of
lot and the accuracy of its description.
118 SOTHEBY’S